Treace Medical Concepts, Inc. (NASDAQ:TMCI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCIGet Free Report) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $13.57.

TMCI has been the topic of several recent analyst reports. Stifel Nicolaus cut Treace Medical Concepts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $6.00 in a report on Wednesday, May 8th. Morgan Stanley downgraded Treace Medical Concepts from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $15.00 to $5.50 in a research note on Wednesday, May 8th. Truist Financial lowered Treace Medical Concepts from a “buy” rating to a “hold” rating and lowered their target price for the stock from $17.00 to $7.00 in a report on Wednesday, May 8th. UBS Group cut their price target on shares of Treace Medical Concepts from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, BTIG Research lowered shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th.

View Our Latest Stock Analysis on TMCI

Insider Buying and Selling

In other news, Director Deepti Jain acquired 25,000 shares of Treace Medical Concepts stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $4.50 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now owns 31,235 shares of the company’s stock, valued at $140,557.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Treace Medical Concepts news, Director Richard W. Mott purchased 36,802 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $4.38 per share, for a total transaction of $161,192.76. Following the completion of the acquisition, the director now owns 1,027,753 shares of the company’s stock, valued at approximately $4,501,558.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deepti Jain purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now directly owns 31,235 shares of the company’s stock, valued at approximately $140,557.50. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 361,802 shares of company stock valued at $1,644,693. 24.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of Treace Medical Concepts by 48.7% during the third quarter. Van ECK Associates Corp now owns 4,093 shares of the company’s stock worth $54,000 after acquiring an additional 1,340 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Treace Medical Concepts during the 4th quarter worth about $68,000. Newbridge Financial Services Group Inc. grew its holdings in Treace Medical Concepts by 100.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after buying an additional 3,567 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Treace Medical Concepts by 20.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,161 shares of the company’s stock worth $107,000 after acquiring an additional 1,376 shares during the last quarter. Finally, RiverPark Advisors LLC increased its holdings in shares of Treace Medical Concepts by 763.9% during the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after purchasing an additional 7,952 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Price Performance

Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $27.70. The firm’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $11.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.22 and a current ratio of 3.98.

Treace Medical Concepts (NASDAQ:TMCIGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, hitting the consensus estimate of ($0.30). The business had revenue of $51.11 million during the quarter, compared to the consensus estimate of $49.07 million. Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Treace Medical Concepts will post -0.87 EPS for the current fiscal year.

About Treace Medical Concepts

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Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.

See Also

Analyst Recommendations for Treace Medical Concepts (NASDAQ:TMCI)

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